by Tom Campbell | Feb 5, 2025 | California Taxes, Economic Opportunity
After 2003, California became one of the very few states that taxes machines employers purchase to make products. Forty-four other states exempt manufacturing equipment from their sales or property taxes, 20 others explicitly exempt research equipment. In 2014, this...
by Tom Campbell | Feb 5, 2025 | California Taxes, Economic Opportunity
Multi-state tax rules should encourage hiring in California. Many companies do business across state lines. They have income from many sources. Each state wants to tax that income. Some states simply apply a percentage formula, depending on how much of the...
by Tom Campbell | Feb 5, 2025 | California Taxes, Economic Opportunity
California should spend no more than it raises in taxes (except for long-range infrastructure projects suitable for bonds). Further, California should adhere to a policy of not raising taxes, barring a true (and rare) emergency. State government should budget based on...
by Tom Campbell | Feb 5, 2025 | California Taxes, Economic Opportunity
Under current law, any tax increase requires a 2/3 vote, and that should continue. Otherwise, California will increase its taxes even more. We already are the state with the highest marginal income tax rate. California is not so unique in requiring more than a...
by Tom Campbell | Feb 5, 2025 | California Taxes, Economic Opportunity
Hours are wasted by Californians having to fill out a separate income tax form, different from their federal returns. For individuals, the state income tax should be a set percentage of what the individual pays in federal income tax. The only departures from this...
